Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Danendra jain (manager)     30 December 2010

Politicians,officers Layers CA and bankers

 

Chartered Accountants (CA) in India are mostly working as brokers of tax officials and bankers. It is CAs who manage tax evasion from tax authorities or bank finance from banks. Raju was the greatest fool who disclosed his fraud in Satyam Computers; otherwise none of CA could catch the culprit. Almost all CAs are simply selling their signatures to business community, busy in negotiating with tax officials and bank officials and they can sign any balance sheet blindly or cook fake balance sheet as per need of traders and industrialists. CAs work as middlemen between loan seekers and bankers and they can manipulate the entire accounts’ picture as per whims and fancies of the loan seeker and loan give bank  if CAs get handsome amount as fees.CA can certify any faulty or fraudulent transaction in balance sheet of any company or certify bad assets of banks as standard assets provided they get handsome money and gift in return.

Similarly Lawyers in India in general are working as brokers and middlemen for judges working in various courts. Officers, secretaries working in various state level secretariats or in secretariat attached of various ministries and Parliament of India are working in general as agent and broker for ministers. Politicians of various political parties who are effective and master in manipulations are working as agents for various MLAs and MPs. District level political leaders are flatterer of state level leader of a political party and state level leaders works as yes-men of central level leaders. In common terminology they are called as lobbyist or flatterer or managers or chamchas but for all practical purposes they are actual fate makers. To add fuel to fire , even IAS officers ,IPS officers and armed forces have become agent of business community in some way or the other. Anyone can imagine the fate of the country when protectors are not trustworthy.

It is caucus of these flatterers who surrounds powerful leaders in all offices, banks, Income tax offices, secretariats and at all places where powerful persons are sitting. It is these flatterers known as Godfathers who manage transfer, posting and promotion of staff who works as per whims and fancies of lobbyists. It is these lobbyist or game players who manage transfer of honest workers who hinders their corrupt path to remotest place, to critical place or to a place where he or she becomes ineffective in all fields of his life. It is these lobbyist who manage torture to good workers who create impediments and it is they who manage even killing of such hard core honest performers. It is these lobbyists who can make or mar a government for their self interest.

Neera Radia is not alone working as lobbyist in corporate world but there are hundreds and thousands of such lobbyists active in practically in all offices. Even top ranked DGM, GM, AGM.CM in a Public Sector bank has to approach one or the other lobbyist to get fastest promotion and cream posting. General Managers have to contact lobbyist sitting in RBI and Minister of Finance for getting the post of ED and CMD of a bank. Retired politicians have to contact top leaders to become director in a PSU and so on so forth. One has to invariably contact a lobbyist for getting his work done easily quickly and with minimum possible expenses.

In eighties one great lobbyist namely Harshad Mehta was caught in bank scam .But in this age of reformation there are hundreds of person working like Harshad Mehta and manipulating Stock Market as per their sweet will and SEBI is silent spectator of all these scandalous transactions and killer speculations in stock market till it assumes the form of a scam or scandal.

In such an environment it does not look astonishing and unexpected incident when one say that Reddy brothers succeeded in tax evasion of Rs.80.00 crores in mining in Karnataka or Mr. Raja OR Madhu Koda or Mr. Kalamadi or any such corrupt officer could accumulate wealth worth hundreds of crores of rupees.

In fact most of the government officers and ministers are busy in making money some way or the other. Even media men are indulged in such corrupt game in their own style. This is the picture of Indian democracy where rich is growing richer and poor are becoming poorer. Rich people are hiding their money in the form of land , gold, silver and diamond like precious goods whereas the poor common men are unable to afford their daily bread, cloth and a house to live in.

 

 

Lobbyist can approach all powerful centers whereas common men are fear of accessing any office where he can expect his work done or where he can knock the door to get justice.

It is ridiculous to know that RBI has asked details from bankers who sanctioned finance to companies currently under investigation by CBI to punish the culprit top ranked bankers who financed to telecom companies by taking bribe. It is nothing but a reluctant surgical operation undertaken by RBI and not body scan of banks which should be undertaken by RBI to stop corrupt practices prevailing in the banks where top ranked officials like General Managers are caught taking bribe for lending.


Scam of value of hundreds and thousands of crore rupees cannot take place without the support of hundreds and thousands of persons in the system. Few cases of scams and corruptions which are exposed in public by media are not aberration of the system but exposure takes place only when there is dispute in sharing of bribe money among corrupt officials or when bribe giver remains unsatisfied even after payment of bribe. Exposure of scam takes place when desired work is hampered even after payment of bribe to ministers and officers due to change of guard or change of powerful lobby or change in policy due to some reason or the other. Otherwise it is the corrupt system which has been developed by politicians and rulers of the country since independence.



Learning

 1 Replies

Danendra jain (manager)     30 December 2010

I would like to request you to arrange seeking information under RTI on following points

Information related to loans and advances sanctioned or written off directly or indirectly by Regional head or zonal head of a bank should be sought under RTI act. This will reveal that all executives are guilty of bad lending and bad write off or unwarranted compromise with bad borrowers.

You may begin from existing or retired General Managers of a few prominent banks. If we look into the past of  at least ten GMs of a bank we will find that all advances sanctioned by him during last ten years has become bad or all advances induced by him but sanctioned through his flatterer Branch Manager has become bad or even written off. This will be enough to prove that only bad bankers could get promotion and good posting and it is bad bankers who are mainly responsible for banking scams .It is in the era of reformation that officers of the rank of CEO,GM and DGMs are caught by CBI in bribe based lending. When heads of a bank are corrupts it is easy to guess the nature of officers at junior level.

It is a bitter truth that without earning from bad lending any bank officer cannot accumulate property worth crores of rupees.

Therefore I am of the view that at least all NPA accounts with amount more than one crore or five crores can be looked into to find out who was the person behind its sanction. It will be proved that most of the big advances sanctioned during last five years have become bad. In most of the branches situation of advances is very much alarming either due to wrong selection of Branch Manager or due to shortage of manpower. Whatever may be the reason for different Branches for increasing NPA in bank, it is definitely indicator of defective management.

 

Internal health of most of the banks is more pitiable. Branch manager selected are either flatterer or regional head or bribe manipulator. As such advances given by such BMs become bad in a year or two. There is none to stop such malfunctioning in bank and punish actual bad banker and pull them down from top posts to rock bottom.

 

It is only by using RTI that one can explore the facts and place the matter before banking division, RBI and Government of India to highlight the real reason of weakening health of banks in Public Sector and to find out the reason why these banks are unable to give suitable salary rise even in five years whereas other private sector companies are able to give a salary rise of 10 to 30 % every year.  It is only then government of India and Ministers will look into injustice meted out to PF optees in particular and bank employees in general.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register